MANILA – Nearly three years after assuming the post of president and CEO of Mediaquest Holdings, Noel Lorenzana has resigned.
Mediaquest is one of the largest media companies in the Philippines and is chaired by Manuel V. Pangilinan. Lorenzana was appointed in April 2013 to succeed Ray Espinosa.
As the parent company of TV5, Cignal, BusinessWorld, and Bloomberg TV, the challenge set before Lorenzana upon his appointment at Mediaquest was to break the perceived stranglehold over Philippine media that ABS-CBN and GMA Network have had for the past few years.
Prior to the Mediaquest position, Lorenzana had served as head of Smart Communications. He also ran Filipino sauce producer NutriAsia and spent more than a decade in Unilever including being managing director for their Singapore and Malaysia offices.
When Pangilinan first announced Lorenzana’s move to Mediaquest in 2013, he said, “Noel’s background in the telco space and in fast moving consumer goods (FMCG) will be of immense advantage in his ability to bring the worlds of media and telecommunications closer… We extend to, and I assure, Noel our full confidence and unstinting support.”
Stay tuned to adobo for further developments on this story, including who will step into Lorenzana’s shoes at the top of Mediaquest.
